Giving up on Pattaya

[scubascuba3]

59 minutes ago, Leaver said:

Why would life long renters take the plunge, when rents are going to rock bottom?

 

 

same was said about the stock market, if you'd bought a FTSE 250 fund when it bottomed out at the kick off of covid you would have made 80% now. Some good condo deals out there. Rents will be back up in a year or so

[Leaver]

13 minutes ago, scubascuba3 said:

same was said about the stock market, if you'd bought a FTSE 250 fund when it bottomed out at the kick off of covid you would have made 80% now. Some good condo deals out there. Rents will be back up in a year or so

Property ownership is viewed by many as not a good deal in Thailand, under any circumstances, myself included. 

 

You can't compare stock ownership to "owning" property in Thailand.  Market forces of supply and demand are out of line in the Thai property market. 

 

I am not so sure rents will be back up in a year or so.  Where do you think the demand is going to come from?  

[Leaver]

50 minutes ago, moontang said:

Strategic defaulters are more likely to take advantage of low prices than the sheep. How many sheep made the plunge and bought stocks for the first time in April? High amounts of new retail accounts are a signal for a bust, not a boom, as the sheep are the last ones to the party and the first to get slaughtered. 

As I said in another post, there is no comparison between a stock market and the Thai property market, particularly in tourist areas.  Market forces are distorted. 

 

Look at the huge increase of non performing assets Thai banks are now holding.    These numbers are only going to increase.  Where are the buyers?  Where are the tenants? 

 

There were 20,000 properties for sale in Pattaya, pre covid.   The market was cooked before the virus.  

 

For sure there will be a few a few out of line sales, particularly from foreigners, just looking to get out, but most are stuck here now, with many being stuck here for some years.

[scubascuba3]

16 minutes ago, Leaver said:

 

 

I am not so sure rents will be back up in a year or so.  Where do you think the demand is going to come from?  

You don't think people will come back? All  nationalities are desperate to come back

[Leaver]

4 minutes ago, scubascuba3 said:

You don't think people will come back? All  nationalities are desperate to come back

I don't question Pattaya's recovery, I question your time frame. 

 

I think it will be 2 years, post covid.  Many other variable at play, other than just opening the boarders.   

[Nout]

2 hours ago, Nout said:

Like so many others....555

Beautiful Pattaya.

Why would anyone give up on this?...Unless they didn't know it....the real Pattaya

[HashBrownHarry]

1 hour ago, Leaver said:

I don't question Pattaya's recovery, I question your time frame. 

 

I think it will be 2 years, post covid.  Many other variable at play, other than just opening the boarders.   

When do you suggest post Covid will be?

 

What % do you think Pattaya will recover?

[Dagfinnur Traustason]

On 8/26/2020 at 8:44 AM, aussiexpat said:

Anyone else giving up due to the barriers to get back?

Yes, 20 years ago!

[Leaver]

1 hour ago, HashBrownHarry said:

When do you suggest post Covid will be?

 

What % do you think Pattaya will recover?

For Thailand, I think last quarter of 2021.  

 

I think the recovery will be slow.  There will be an initial rush of mongers, but after that, just a slow gradual build up that will take months, into years. 

 

It's possible Pattaya never gets back to pre covid western tourism numbers, because they were in rapid decline anyway.   

[Hanuman2547]

6 hours ago, Nout said:

Beautiful Pattaya.

Why would anyone give up on this?...Unless they didn't know it....the real Pattaya

Nice Liverpool FC shirt that the young boy is wearing at 1:30

[mike787]

Pattaya is over....gone for good.  NO more nothing here.

[4reaL]

2 minutes ago, mike787 said:

Pattaya is over....gone for good.  NO more nothing here.

 

Wait till the Chinese casino opens.....

 

 

[scubascuba3]

3 minutes ago, mike787 said:

Pattaya is over....gone for good.  NO more nothing here.

Why do you think that? 

[bwpage3]

14 hours ago, scubascuba3 said:

You don't think people will come back? All  nationalities are desperate to come back

Sorry not me.

[polpott]

4 hours ago, mike787 said:

Pattaya is over....gone for good.  NO more nothing here.

I know of several regular tourists who know exactly what Pattaya is like today and, if not for quarantine, would return tomorrow. Plenty here for tourists and when the restrictions are lifted, the mothballed bars will reopen and the girls will return from the village. You may wish for gloom and doom in Pattaya but it isn't going to happen.

 

People have been predicting end of days for Pattaya for the last 20 years but every year it adapts and goes from strength to strength.

 

 

Edited December 25, 2020 by polpott

[Nout]

6 hours ago, scubascuba3 said:

Why do you think that? 

Places change. The kind of tourists and travelers that made Pattaya what it was between the 70s and 90s don't exist in large numbers. The ramifications of Covid won't go away for a generation. The Thai authorities will try to reshape Thai tourism. Asian mass package  tourism will grow back again. Thailand will become too expensive and inconvenient for independent travelers and young backpackers. The puritanical government system is hopelessly out of step with most western countries which makes it unattractive. Thailand is no longer the easy going free wheeling destination it used to be and social media has put the spotlight on this. In my life I have seen places such as Goa, Kabul, Tehran, Istanbul etc turn from being wild party places to autocratic,  deeply conservative hostile places. The future of Thai tourism is Indian and Asian orthodox travelers.

[moontang]

2 hours ago, polpott said:

I know of several regular tourists who know exactly what Pattaya is like today and, if not for quarantine, would return tomorrow. Plenty here for tourists and when the restrictions are lifted, the mothballed bars will reopen and the girls will return from the village. You may wish for gloom and doom in Pattaya but it isn't going to happen.

 

People have been predicting end of days for Pattaya for the last 20 years but every year it adapts and goes from strength to strength.

 

 

The naysayers don't seem to grasp that there are thousands of farang guys that have been separated from their Thai GFs for a year or more.  Bar girl, Hiso, Tinder hooker... really doesn't matter, when in most cases these girls are younger, prettier, and cost less than what they would be doing in the West.  Look at what 9-11 did to the travel business.  I bought shares of Hilton and Honeywell... It all came roaring back, and that was just about the start of that housing boom that lasted seven years.  Boys will be boys.. and sometimes they will be girls, too, but people will never stop travelling to find a lady, and then dealing with working thousands of miles away.  

Edited December 25, 2020 by moontang

[jacko45k]

2 hours ago, polpott said:

I know of several regular tourists who know exactly what Pattaya is like today and, if not for quarantine, would return tomorrow. Plenty here for tourists and when the restrictions are lifted, the mothballed bars will reopen and the girls will return from the village. You may wish for gloom and doom in Pattaya but it isn't going to happen.

 

People have been predicting end of days for Pattaya for the last 20 years but every year it adapts and goes from strength to strength.

 

 

I go along with that..... 

It might be that other countries are currently so horrible and miserable, but Pattaya will always be more attractive,

[Leaver]

On 12/25/2020 at 12:32 PM, moontang said:

The naysayers don't seem to grasp that there are thousands of farang guys that have been separated from their Thai GFs for a year or more.  Bar girl, Hiso, Tinder hooker... really doesn't matter,

Pattaya is known as The World's Brothel.  As long as the sex trade is allowed to continue here, Pattaya will attract sex tourists, and they do spend money. I have no doubt they will be back, but the unknown is when they will be back to pre covid numbers, and what businesses will survive to cater for them if / when they return?